When purchasing an investment or retirement product, do you prefer learning how the product works or learning how it solves your problems?

July 31, 2009 at 08:00 PM

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From the August 2008 Issue of Senior Market Advisor Magazine

I'm a retired engineer and the way my brain works, I want to know how something works. Obviously, I want a product that fits my needs, but I have to know the nuts and bolts of it to know if it's something I want to buy.

- Jim D., 68
Long Beach, Calif.

I start with figuring out what my needs are. Once I get that answer, then I begin to know what type of product will help.

- Sally D., 60
Denver

The first thing is, I trust my advisor. We have a great relationship and he'll take the time to spell out what a product will and won't do for me. Once he's gone into the details, I get a better idea if that's something I would want.

- Jim T., 72
Thousand Oaks, Calif.

I need to know both. To me, they're equally important. It's my money I'm putting out there, so I need to know both what a product's about and what my needs are. If those two match up then I consider it worth the investment.

- Jerry Y., 64
Centennial, Colo.

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